Chess champions can win millions in high-stakes tournaments. But less than 1% of players reach the elite level. So how do everyday chess players turn their passion into a paycheck?
It takes hustle and creativity. While chess skills are crucial, you also need business savvy to profit from the game. This post explores proven ways chess players monetize their expertise and passion.
Big Dollar Pro Tournaments
The top professional events like the World Cup offer six and even seven-figure prize purses. The 2020 Chess World Cup awarded over $1.6 million. The winner took home $110,000.
Players earn spots in big tournaments by qualifying through lower-level competitions and rankings. But playing costs run high when you factor in travel, lodging, registration fees, and more. Only those at the pinnacle can win enough to justify the expenses.
Becoming a Sponsored Player
Less than 1% of tournament players break into the elite ranks. But lucrative sponsorship deals provide another path.
Companies and benefactors cover costs for upmarket “super grandmasters” in exchange for branding and promotion. For example, world #6 Hikaru Nakamura’s expenses are sponsored by Red Bull.
Top streamers like Nakamura can also earn from subscriptions and donations. Still, only a tiny fraction of players achieve sponsored status.
Coaching & Lessons
Teaching chess is far more viable for most. Players charge anywhere from $25 to $100+ per hour for private lessons and coaching.
Online teaching expands options. Players offer lessons via Skype and platforms like Chess.com. You can teach students worldwide without leaving home.
Group classes, chess camps, school programs, and more offer additional teaching income streams. Building a reputation in your community is key to gaining students.
Writing Books & Articles
Writing is another avenue chess experts pursue. Penning books and courses allow you to earn continually from your content.
Even self-publishing digital books through Amazon earns authors royalties. Chess sites will pay for high-quality articles and analysis. Just ensure your writing offers unique value.
Organizing Tournaments
Putting together competitions provides income through registrations and sponsorships. The key is finding sponsors to cover costs so you keep the profits.
Connect with schools, colleges, libraries, community centers and local businesses as potential sponsors. Handle logistics like securing venues and promoting events.
Chess Journalism
The chess world, like any niche, supports specialized journalists to cover personalities, games, and industry news.
While writing for passion is common, some outlets do pay for contributions. Aspiring journalists should build a portfolio of published work to demonstrate expertise.
YouTube & Twitch Channels
Streaming sessions on YouTube or Twitch can generate ad and subscription revenue. Fame helps, but anyone can start building an audience.
The key is consistently publishing quality content. Analyzing games, discussing news, tutorials, and interviews are all popular themes.
Final Tips to Monetize Your Chess
– Create free content to build authority and an audience for paid offerings.
– Network online and in your community to find students and new opportunities.
– Consider offering a bundle of products and services rather than relying on just one.
– Stay flexible. Be willing to adapt your monetization approach over time.
The road to “professional chess player” may be long. But with business savvy and persistence, you can earn money from this classic game.
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